Archive for May, 2007
May 26th, 2007 Categories: Just for Fun, Keller Williams
While there are plenty of schools of thought on marketing and sending post cards/mailers to potential clients - I am of the group that says do it, but do it according to a plan, not willy nilly- I can go on about what I mean in another post, until then here is a hint, read: “The Millionaire Real Estate Agent” by Gary Keller.
At any rate during my not so lead filled desk duty today I bought a service called Imperv. I found it via Keller William Intranet of marketing tool suppliers and so far I am very impressed- I called and spoke to a women by the name of Cindy. She had left Microsoft and Cingular (might have been AT&T) because she believed in the Imperv business model, the start up environment, as well as the unique product being offered. That aside she spent the better part of an hour (two separate calls) explaining the product and managed to up sell me on an email distribution strategy tool. She walked me through how I can create a post card, property card, brochure etc etc…the system will save my files and then - here’s the best part - all I have to do is send Imperv my addresses and they will mail too!! Overnight is free (most of the time)….at what I think is a very reasonable rate. I created my “under contract in less than 6 days” Reston listing post card to send to the neighbors in Reston- I saved it for future reference and then created a self promo post card to send to ALL my contacts…..I saved it too and will have Imperv mail them Monday- all I have to do is log in- find my creation and then click send and the system will walk me thru the requirements thereafter….I needed Cindy for concepts initially but by the end of my second call I found this systems so intuitive and easy to use that I thought it worth mentioning here!
Long..boring story short- check them out http://www.imprev.com/ they strike me as soup to nuts marketing mailers…….So far so good!
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May 26th, 2007 Categories: Keller Williams
So it’s the Saturday of Memorial Day weekend and while most of the country is out and about enjoying Spring and making sure to take time to ‘remember’ - I have chosen to work desk duty here at Keller Williams in Arlington, Virginia.
I’m doing this in hopes that since people are out and about that maybe they are house hunting and maybe they will need my services and as they walk by my office maybe they will even stop in and say something like “I need you!” “Please help me” “NOW!”….Oh well I guess I can hope
It does beg the question however has anyone of the readers out there had much success at Desk Duty? Can you create your business from walk-in traffic? While clearly this industry requires multiple marketing approaches, how many would offer that simple desk duty gives them most of their business?
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May 23rd, 2007 Categories: Keller Williams
I have been very active the past few weeks blogging and in doing so found out about The Real Estate Tomato Blog. I investigated them so much so that now I am on their direct call list for marketing their wares. I explained to them today that as I am expanding my business I may be interested in using their services but until then Id like to wait. I went on to offer that I actually thought the real estate industry is very much like peeling back the layers of an onion and therefore I would hold off on the services of the Real Estate Tomato until I got to those layers that I should only peel with their help! I liked my epiphany and suggested to the sales guy- with all do respect- that they consider changing their name to The Real Estate Onion. I guess the only problem with the name change would be that onions don’t smell good and clearly aren’t as sweet as tomatoes. And that’s quit the opposite of my experience with the Tomato folks.
Bottom line, I am finding it amazing how many layers to the real estate industry there are and the blogging network certainly does help share the details.
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May 23rd, 2007 Categories: Financing, Keller Williams
Several of my ”new to real estate investing” friends have been asking what precisely is a 1031 exchange. To avoid any uncertainty I decided I better get a simplified response for them so I looked it up and this is what I landed on-
“A 1031 Exchange, also known as a Like Kind Exchange or Starker Tax Deferred Exchange (named for an investor who challenged and won a case against the IRS) is a transaction under United States law which specifies under section 1031 of the Internal Revenue Code, 26 U.S.C. § 1031the following:
- No gain or loss shall be recognized on the exchange of property held for productive use in a trade or business or for investment if such property is exchanged solely for property of like kind which is to be held either for productive use in a trade or business or for investment.”
This allows taxpayers to defer all of the capital gains taxes resulting from the sale of investment property, when they use a Qualified Intermediary, follow the IRS guidelines, and use the proceeds of the sale to buy more investment property within 180 days of their sale. In order to obtain full benefit, the replacement property must be of equal or greater value, with equal or greater debt, unless the taxpayer adds cash to the deal to replace debt instead, and all of the proceeds from the relinquished property must be used to acquire the replacement property. The taxpayer must have assigned his interest in the relinquished property to a Qualified Intermediary prior to the close of the sale, so that the taxpayer has lost control of the funds before he has any opportunity to obtain them.
At the close of the relinquished property sale, the proceeds are sent by the closing agent to the Qualified Intermediary, who holds the funds until such time as the transaction pertaining to the replacement property is ready to close. Then the proceeds from the sale of the relinquished property are deposited by the Qualified Intermediary to purchase the replacement property, which is then delivered to the taxpayer, all without the taxpayer ever having “constructive receipt” of the funds.
The prevailing idea behind 1031 Exchange is that since the taxpayer is merely exchanging one property for another property(ies) of “like-kind” there is nothing received by the taxpayer that can be used to pay taxes with. All the gain is still locked up in real estate and so no gain or loss can be claimed.”…. Click here for more information.
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May 23rd, 2007 Categories: Buying, Financing, Keller Williams
I started out investing in real estate because of 1. My interest 2. The affirmation from the series of books by Robert Kiyosaki that explained it can lead to quicker than expected financial freedom. Fortunately I am on my way! However, over the years I have noticed a few flaws in the approach and tax ramifications I didn’t expect (Ill explain those in another blog). As far as the flaws, noticed I kept hitting the wall to 100% financial freedom when I realized that continuing to leverage OPM (other people’s money) eventually has a cap. “Rich Dad, Poor Dad”, for me, didn’t ever advise there is a limit to what the world will allow you to borrow/leverage. The good news is ‘my’ cap is manageable and the “assets” are appreciating and the leverage is not even close to my net worth (partly due to my own comfort level in leveraging).
Since now we have the ability to share what we know via blogging, I wanted to uncover a few thoughts on “Rich Dad, Poor Dad” especially for those perhaps bitten by his ‘word’- I pulled a portion of the analysis from John T. Reed’s analysis- it is quite an interesting read. It certainly helped me keep things in percpective and I’m hoping it does the same for other Kiyosaki readers….
| Kiyosaki said |
Reed comment |
| avoid mutual funds and 401(k)s because they are too risky |
Mutual funds vary in their risk. Some are very low risk. 401(k)s have tax benefits that are hard to ignore. Also, you can invest them in almost anything you want in many cases.Bogus gurus like to give extremely simple rules. Ignorant readers love them. That’s fine when the subject permits. But this is an extremely simple rule that is not valid because of the complexity of the subject. |
| says his net worth is “$50 million to $100 million depending on the day” |
I don’t believe that. He was bankrupt and homeless in 1985 by his own admission. Although a lawyer who searched the federal case management system on line says he could find no bankruptcy filing for Kiyosaki. He claims to have sold 26 million books. I don’t know if I believe that either. The highly successful book What Color is Your Parachute? has only sold seven million copies since it first came out in 1970. But even if you accept the 26 million figure, Kiyosaki’s co-author royalty would appear to be about 72¢-not enough to get you anywhere near $50 million even if you had no living expenses. He claims to make money in other businesses, but will not disclose enough detail that anyone can check that.Also, what’s this “depending on the day” nonsense? I presume that’s a shameless effort to impress people who are really ignorant about the world of finance. What he is saying is that his net worth doubles or halves within 24 hours. He implies that causes him not the least bit concern. Gimme a break! If my net worth dropped in half in one day, I would be pretty upset about it.What must he be invested in to enable his net worth to double or halve in 24 hours? Pork belly futures? No one in his right mind would invest his entire net worth in an investment vehicle that could double or halve in 24 hours.In the 2/03 Smart Money magazine article, he said his net worth was $35 million. Must have been a really bad day in pork belly futures. Actually, his book selling success notwithstanding, I would guess his net worth is more like $3 million, virtually all of it from book and related sales. |
| the investments of the wealthy are managed well |
Laymen think that. I don’t. The main thing in managing an investment is stock picking. That is impossible to do well on purpose. It’s a crap shoot. If anybody ever figured it out, he would not need to work-for the wealthy or anyone else. There have been numerous studies proving this, most notably the classic book, a Random Walk Down Wall Street by Burton G. Malkiel. The wealthy do get good advice on legal implications of their portfolios, but not on how to earn a high return. The notion that anyone gets good advice on how to earn a high return in securities is a laymen’s myth. |
| says he was able to retire at 47 |
So why didn’t he? He’s still hustling his butt off to sell stuff. |
| there are three different types of income: earned, portfolio, and passive |
This is primarily an income-tax-rate distinction as Kiyosaki explains it. He says these types of income are taxed at 50%, 20%, and 0% respectively.The phrases “passive income” and “portfolio income” do appear in the Internal Revenue Code. I have used “earned income” to describe money you make from your salary or business.In fact, Kiyosaki is spouting nonsense. The federal income tax rates on earned income, passive income, and portfolio income are the same-not 50%-but your overall rate can get to that level when you add state income taxes. The distinction between the different types of income involves whether the losses from one category can be deducted from income of another category.The 20% tax rate of which Kiyosaki speaks only applies to long-term capital gains. Those come from selling assets at a profit after holding them for a specified number of months. You can have such 20% -tax-rate gains in both the passive and portfolio categories.The only income that is taxed at a 0% rate are special things like municipal bonds and gains of less than $250,000 per person from the sale of certain personal residences.It is possible to do transactions where there is no tax due at present, like IRC §1031 exchanges, but the tax-free nature of such transactions stems from the fact that you received no income. Rather you put the proceeds from the sale of one rental property into the purchase of another rental property. If and when you eventually take out your profit by selling your rental property, you will be taxed on the gain that you had when you exchanged. See my books Aggressive Tax Avoidance for Real Estate Investors, How to Do a Delayed Exchange, and Reverse Delayed Exchanges. |
| I own 10 rental buildings in Miami, Austin, and Phoenix. |
Most investors use more specific terminology like “apartment complex” or “office building” or “shopping center.” Investors usually use the phrase “rental building” to hide the fact that their properties are mere rental houses.You should not own rental property in three states unless you have a specific reason for doing so. Why not own all ten rental properties in Phoenix, where he lives? With Kiyosaki, I suspect he thinks having property in three states makes him sound like more of a tycoon. To experienced investors, it makes him sound like more of a dilettante. You want the property in the same region-preferably where you live-so you can use the same people to work on all the properties and save on air fares, hotels, and so forth.One reader said investing in three different regions gives you diversification benefits. Only against regional economic downturns and possibly rent control if the buildings are bigger than one family. But rent-control risk is better dealt with by staying out of multifamily and states that do not have a rent-control pre-emption in state law. The risk of regional economic downturns is not great enough to overcome the disadvantages of spreading yourself that thin in terms of travel, personnel, need to learn different laws and markets, etc. |
To read more of John T Reed’s comments visit: visit here.
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May 23rd, 2007 Categories: Financing, Keller Williams
So I learned this (the hard way this year) and wanted to share my findings to those who may not have good accountants guiding them through the process. It involves pretty interesting tax implications- let me start with the basics- keep in mind I’m not an accountant or attorney and I am only sharing my one dimensional perspective thru my unofficial blog…..So here goes…
I think in most states the rule of thumb is you get to write off the interest portion of your primary residence from your annual Federal Tax Bill. I was also under the impression I could write off the interest on my 4 investment properties as well. And for one year (that I was consulting as a 1099 and doing real estate for majority of my time) I did just that and received almost a $40,000 tax return. Things were humming-my investment properties equity was growing, the tenants were paying their bills on time and I was planning for the next year’s tax return, when I got really busy consulting for a portion of the year, and then got a new accountant to do my taxes. Important factors to the end result since I ended up paying close to $30,000.00 in taxes and have been annually since.
Here’s the bottom line: If you are a real estate investor and you are interested in writing off your investment property interest payments you need to make sure that you are a “real estate professional” for at least 750 hours in a given year –OR– at least worked one hour longer than any other earnings you may have received outside of your real estate profession. I have been consulting in the information technology industry the past few years (while “doing” real estate investing and attempting to sell too). The problem for me lies in that my consulting time has exceeded my real estate profession time the past few years and therefore I don’t get to write off my investment property interest.
Just a point of interest when deciding on how many hours you dedicate to your real estate profession- it could mean you get a nice tax return or you pay one…..
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May 23rd, 2007 Categories: Fairlington, Keller Williams, Single Family Homes
Having been a long time owner in Fairlington, I wanted to share a few snippets about this amazing neighborhood for those in our area or those interested in coming to our area. Fairlington is a must see. I have captured a lot from www.fairlington.org below
Situated just south of the Pentagon and just about 5 miles from the White House, over the years this neighborhood has been quite an epicenter for government housing. I decided to forward along a little information from the neighborhood website I felt was interesting regarding the history of Fairlington.
Fairlington is a unique and historically significant community that was constructed for defense workers and their families by order of President Franklin D. Roosevelt in response to the D.C. housing shortage brought on by World War II.
“On the eve of American’s entry into World War II, President Roosevelt called in Houston architect Kenneth Franszheim to design housing for the wartime executives who would soon be working in and around Washington. Franzheim, joined by architect Alan B. Mills, was given his pick of skilled workers, and he had first crack at scarce building materials. He also had the money to do a first-rate job. Average cost per unit came to $10,300.”

(Fairlington Homes, 1943, Courtesy National Archives)After a condominium conversion in 1972, Hartford sold the two projects for about $59 million to Chicago Bridge and Iron Corporation, an international builder of heavy engineering structures. Hodges and Lee became minority stockholders and officers of a new entity, CBI-Fairmac Corporation. Hodges, its president, and Lee, the executive vice president, and treasurer, began work to convert Fairlington into seven condominium villages. Walter Hodges died in 1978, just as the rehabilitation of Fairlington was completed.
Today, Fairlington reflects the charm of times gone by. Brick colonial style, slate roofs, and tree-lined streets are a testament to the expert planning and design of renowned architects Kenneth Franzheim and Alan B. Mills, while the unique sense of commmunity is affirmation of the love Fairlington’s inhabitants feel for its past and their commitment to its future.
Fairlington remains a very well preserved example of the Colonial Revival style in Northern Virginia and in the Washington Metropolitan area.
Fairlington Becomes An Historic District

“On December 2, 1998, Fairlington was listed in the Virginia Landmarks Register and on March 29, 1999, in the National Register of Historic Places. These honors were the culmination of an effort begun in 1989 by Fairlington resident Lorraine Drolet.”Today Fairlington still thrives and has been a great neighborhood for many. Many government officials still call it home. I can recall not so long ago walking my dog in the early evening and having Newt Gingrich pull up in front of one of his friends houses and as as he got out of his car and started walking to his destination he commented on how cute my dog was and gave her a little pat on the head.

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May 20th, 2007 Categories: Keller Williams, Selling
Last week I advised my seller to stop smoking in the house. I advised this since the first thing I noticed when doing our final walk through before the open house this weekend was the pungent smell of lingering stale cigarette smoke. Irony has it that today, when I was opening the house to potential buyers, I found the owner huddled in the back of the garage, smoking. This was a good thing, but I still noticed the smell of stale cigarette smoke lingering throughout the house, clearly it had adhered itself to the paint on the walls and sheer curtain hanging on most windows. Before opening I began spraying air freshener all over the place to cover it up when I realized…
Is there anything worse than the strong smell of ‘Cranberries and Roses’ covering an underlying smell of stale smoke? I thought better of my spraying and opened up all the windows…
I’m still wondering however, is it better to cover up the undesirable smells like tobacco and/or used kitty litter boxes, musty rooms etc. with air fresheners, candles, cookies baking in the oven or do we let potential buyers experience the moment?
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May 18th, 2007 Categories: Keller Williams, Selling
I am working with my broker to sell this house (quite the beauty here in North Reston,VA). I met the owner last night as we did our final walk thru before this weekend’s open house. We finalized a few finishing touches before we all agreed it was time to generate some traffic. Here comes the part that I am hoping you find interesting.
The owner (a lovely women who is retired and moving out of that state, we’ll call her Ellen) within 3 minutes of meeting me explained to me the importance of internet marketing my business… thru AOL….Here are the cliff notes of what she explained…
While not as computer savvy as the most basic of bloggers needs to be, she knows how to check email and has “AOL” loaded on her computer. She has used AOL for email for several years. Every time she logs into AOL she see the hyperlink to Real Estate (middle of the page directory) and one day (in the not so distant past) clicked it…..It is here that she was connected to a home and or Realtor search- she went down the home search, picked her city and state and proceeded to follow the prompts that led her right to posting of her new neighborhood. She then went to the Realtor side, found an agent, made the contact and is now closing in a few weeks on her new home and life in a different state. Not every customer is so wiling to do a site unseen transaction but some are out there and who knows what the future holds so I decided to take a look myself
I surfed around this afternoon and found I could search on line most anywhere in the US for a new home and quickly too- Next I played with the Find a Realtor button- where I was prompted to read the the following: “The starting page is selected randomly to avoid alphabetical bias.” followed by a yellow page list of over 231 realtors for ARLINGTON Virginia.
I have to keep looking at how this works- clearly it can’t hurt to get you and your business published here-I thought it was worth sharing since my customer tells me she bought her new house via AOL without even having been to see it yet in person- someone is just about to cash a nice commission check. Shouldn’t we be doing the same
?
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May 16th, 2007 Categories: Financing, Keller Williams
Here’s what I have recently learned is the difference between a broker, a lender, and a portfolio lender.
Seems to me these differences are important things to undertand in our line of business
1. Broker. Broker’s don’t have their own money to lend. Brokers have access to various lender’s money. i.e. Wells Fargo, Countrywide, Citibank, Suntrust, National City. Okay, you say, if these companies give money to the broker, how does the broker make money–they need to charge above the going rate to make a profit, right? NO! NO! NO! Within each of these companies, like Wells Fargo, etc. there are two divisions. One is the retail division and one is the wholesale division.
The retail division has loan officers out on the street approaching realtors, clients, etc. just like me. The wholesale division has reps that solicit business from loan officers like me–they do not deal directly with the agents or the public. They get their business from mortgage brokers. How can the wholesale reps hope to get any business while they have to compete with their retail counterparts? Because the wholesale money is offered at a CHEAPER rate than the retail money. That leaves room for the broker to make money. The loan closes in the name of the company that lent the money-not the broker.
2. Lender. A lender has what is known as a wholesale line. i.e., a line of 4 million, let’s say. Okay, so GMAC has given the lender a line of moneythat he can lend. Within the lender’s company is a department called secondary. Secondary marks up the money to make the company a profit. The loan closes in the lender’s name.
3. Portfolio Lender. This is like Chevy Chase Bank, or Suntrust or Wells Fargo. These companies usually have both a retail and a wholesale division. These companies can sell their loans or keep them (keep them in their “portfolio”). Loans close in their name.
So do I need to pass out three business cards when giving a lender referral?????
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May 16th, 2007 Categories: Buying, Fairlington, Keller Williams
There is a quaint little village of condominiums known as Fairlington in South Arlington. It is a community of condos with several in the form of a traditional townhome (in style/appearance). Specifically it is situated in the southern most corner of Arlington, just as you enter Alexandria. For that matter, part of the neighborhood is enclosed by Quaker lane and on the other side of Quaker lane is where Alexandria begins. For those in the area is its walking distance to Shirlington.
I coveted the neighborhood for many years before I could finally afford to buy. It was 1998 when I took possession of my first unit- an end unit -townhouse style with a finished basement, 2 bedroom, & 2 bath. I raised my dog, continued to court my lovely girlfriend (now wife) and learned the principles of homeownership. It was about 3 years later that my wife and decided the suburbs of Reston, VA were more our style for raising a family.
I have continued to invest in Fairlington and have much success in the equity gains. I have benefited from mostly military based tenants (the Pentagon is 2.5 miles down the road (direct shot via 395)) and will forever be enchanted by the lure of this well maintained and properly preserved historic site within the community. Please check this out for more information.
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May 15th, 2007 Categories: Buying, Keller Williams
I am such a huge fan of this site as I have found it extremely informative on real estate basics NATIONWIDE-
What do you think????
From the ‘About us’ section of http://www.zillow.com/
What is Zillow.com?
Zillow.com is an online real estate service dedicated to helping you get an edge in real estate by providing you with valuable tools and information.
In the beginning…
In early 2005, Zillow founders Rich Barton and Lloyd Frink were fresh from the success of bringing travel to the Internet at Expedia.com. While brainstorming ideas for their next business venture, they were drawn to the idea of real estate. Rich had actually started obsessing about bringing real estate online as early as 1989 when his mom decided to become a real estate agent after she packed her last child off to college. He even wrote a plan for a consumer real estate service, but the idea was shelved in favor of the dreaded “steady job.” However, his enthusiasm for it never completely disappeared…
Fast forward 15 years. Both Rich and Lloyd were separately involved in buying houses, while jointly looking for new business opportunities. Lloyd spent hours finding information on the house he wanted, putting data into a spreadsheet, and doing complex calculations to determine a home’s worth. The idea crossed his mind that someone shouldn’t have to be a computer programmer to determine what a house is really worth. He figured he wasn’t alone - there must be millions of people struggling with the same problem.
Then the idea struck them: Why not help consumers by giving them access to the same kinds of information and tools agents use? Why not equip consumers with information about what is their most important investment - their home? So Zillow was born, with the goal of helping people make smarter real estate decisions.
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May 15th, 2007 Categories: Buying, Keller Williams
Great information on top 10 things you should consider before venturing out to buy a home.
1. Don’t buy if you can’t stay put: If you can’t commit to remaining in one place for at least a few years, then owning is probably not for you, at least not yet. With the transaction costs of buying and selling a home, you may end up losing money if you sell any sooner.
2. Start by fixing up your credit: Since you most likely will need to get a mortgage to buy a house, you must make sure your credit history is as clean as possible. A few months before you start house hunting, get copies of your credit report. Make sure the facts are correct, and fix any problems you discover.
3. AND MOST IMPORTANT, Aim for a home you can really afford: The rule of thumb is that you can buy housing that runs about two-and-one-half times your annual salary. But you’ll do better to use one of many calculators available online to get a better handle on how your income, debts, and expenses affect what you can afford.
4. Don’t worry if you can’t put down the usual 20 percent: There are a variety of public and private lenders who, if you qualify, offer low-interest mortgages that require a down payment as small as 3 percent of the purchase price.
5. Buy in a district with good schools: In most areas, this advice applies even if you don’t have school-age children. Reason: When it comes time to sell, you’ll learn that strong school districts are a top priority for many home buyers, thus helping to boost property values.
6. Get professional help: Even though the Internet gives buyers unprecedented access to home listings, most new buyers (and many more experienced ones) are better off using a professional agent. Look for an exclusive buyers agent, if possible, who will have your interests at heart and can help you with strategies during the bidding process. Check out www.sellingnva.com
7. Choose carefully between points and rate: Your mortgage broker or bank can help here so when picking a mortgage, you usually have the option of paying additional points — a portion of the interest that you pay at closing — in exchange for a lower interest rate. If you stay in the house for a long time — say five to seven years or more — it’s usually a better deal to take the points. The lower interest rate will save you more in the long run.
8. Before house hunting, get pre-approved: Help your agent out. Getting pre-approved will save yourself the grief of looking at houses you can’t afford and put you in a better position to make a serious offer when you do find the right house. Not to be confused with pre-qualification, which is based on a cursory review of your finances, pre-approval from a lender is based on your actual income, debt and credit history.
9. Do your homework before bidding: Your opening bid should be based on the sales trend of similar homes in the neighborhood. So before making it, consider sales of similar homes in the last three months. If homes have recently sold at 5 percent less than the asking price, you should make a bid that’s about eight to 10 percent lower than what the seller is asking.
10. Hire a home inspector: Sure, your lender will require a home appraisal anyway. But that’s just the bank’s way of determining whether the house is worth the price you’ve agreed to pay. Separately, you should hire your own home inspector, preferably an engineer with experience in doing home surveys in the area where you are buying. His or her job will be to point out potential problems that could require costly repairs down the road.
I hope this article from your local Keller Williams agent helps!
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May 15th, 2007 Categories: Keller Williams
What happened to the olden days when after you bought a home or investment property using an agent, the agent bought you a gift? My recent purchases and inquires to other agents has led me to believe that agents don’t do the gift thing anymore. Could this be true? From those I hear do actually still offer a ‘thank you’ in the form of a gift, money or gift certificate etc., what is the limit? Much like a waiter or waitress may get a 20% tip for good service. What does an agent figure on giving their client once a transaction has gone to settlement?
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May 15th, 2007 Categories: Buying, Keller Williams
There is lots to be fueled by from the 60 minutes broadcast on internet discounting. I totally think its a very non-practical, risky way to buy a house. While the internet can be helpful in weeding down your criteria and define the best property options for you, one must be very careful (in the name of saving a few bucks up front) not to get into a purchase that could cost a lot more later on by disgregarding traditional purchasing methods. I say there is a big wave of change headed our way regarding real estate and the internet, but I think we have a long way to go before we can say we’re doing it 100% right for our customers - what are your thoughts?
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